Bain Capital has announced that it has entered into a definitive agreement under which affiliates of Bain Capital will acquire Physio-Control, the world’s leading provider of emergency medical response technology for use in the intervention and treatment of cardio-respiratory and other medical emergencies.
The stock of Physio-Control and related entities will be purchased for cash in a transaction valued at approximately $487 million.
Medtronic expects to use a portion of the proceeds to offset any potential dilutive impact from this transaction to fiscal year 2012 non-GAAP earnings per share.
“We are pleased that Physio-Control has found another strong partner to prepare the company for the next stage of its growth,” said Omar Ishrak, chairman and chief executive officer of Medtronic. “For more than 55 years, Physio-Control has been developing technologies and designing devices that are legendary among emergency medical response professionals. With an impressive innovation pipeline and backing by Bain Capital, we believe Physio-Control will be well-positioned for growth and to continue its lifesaving mission to serve emergency responders, hospital care teams and their patients around the world.”
See the full details at Current Agreements (subscription required)
Does Medtronic’s defribrillator unit divestiture include its patient implant units?
Hi Bernard, The unit sold comprises the Physio-Control business – see: http://www.physio-control.com
The products produced by Physio-Control comprise primarily external devices such as defibrillators and associated monitors, monitoring software, and external cardiac chest compression systems. I hope that helps!